Treatement of stcg on shares on which stt paid
This query is : Resolved
29 May 2014
i have sold some shares which i have bought 15 days back and gained some amount.
what is the treatement for the same
the other thing i have done is sold shares which i have bought in 2008 with stt and incurred loss
what is the treatement of both the transaction
alongwith what if my annual income is below basic exemption limit
Nikhil Kaushik
(Expert)
01 June 2014
for the short term capital gains, they shall be taxable at 20% under 111A. for shares bought in 2008 and sold now, you need to ignore the losses as they cannot be set off against any income.
since your overall income is below basic exempted limit, there wont be any tax liability.
since your overall income is below basic exempted limit, there wont be any tax liability.
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